Selling a home can be an overwhelming and stressful experience for homeowners, particularly those who decide to sell their property without the assistance of a real estate agent. Many homeowners often consider selling for sale by owner (FSBO) as an option to avoid paying a commission fee to a real estate agent. However, selling a home without the help of a professional can be challenging, time-consuming, and can result in lower sales prices.
In this article, we will explore why it is better to sell your home through a real estate agent versus selling for sale by owner. We will also provide statistics from the National Association of Realtors® (NAR) to support the advantages of working with a professional.
The Advantages of Working with a Real Estate Agent:
Experience and Knowledge:
Real estate agents have the necessary experience and knowledge to guide homeowners through the home-selling process. They understand the local market trends, pricing strategies, and marketing techniques that are most effective for selling homes in the area. Additionally, they can help homeowners understand the legal requirements and procedures involved in selling a property.
According to the NAR, 89% of home sellers worked with a real estate agent to sell their homes in 2020. This statistic demonstrates the value homeowners place on working with a professional to ensure a successful home sale.
Access to a Network of Buyers:
Real estate agents have access to a vast network of potential buyers, including those who are actively looking to purchase a property and those who may be interested in purchasing a property in the future. They can leverage their network to market the property to a wider audience and attract more potential buyers.
The NAR reports that only 8% of home sales in 2020 were FSBO sales. This statistic highlights the limited reach homeowners have when selling a property on their own compared to the vast network of buyers that real estate agents have access to.
Pricing Strategy:
Real estate agents can help homeowners set the right price for their property based on market trends and comparable sales in the area. They can also help negotiate the best price for the property, ensuring that homeowners receive the highest possible sales price.
The NAR reports that homes sold with the assistance of a real estate agent sold for 99% of the asking price, while FSBO homes sold for 96% of the asking price. This statistic illustrates the value that real estate agents bring to the home selling process in terms of setting the right price and negotiating a favorable sales price.
Selling a home can be a complex and challenging process, and working with a real estate agent can make a significant difference in ensuring a successful sale. Real estate agents offer homeowners the necessary experience, knowledge, and access to a network of buyers to market the property effectively and attract potential buyers. Additionally, real estate agents can help homeowners set the right price for your property!
